Short term trend is up now but will lose strength once it closes below 1.1500.As indicated last week it corrected exactly from the Gann resistance level 1.1630. Next big resistance zone is near 1.1750 to 1.1850. The support level given below was 1.1300 and look at the chart how it has rallied from this level.
Major trend remains down and sell on rallies is the strategy for positional traders. These levels are only for positional trading and are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1.1300/ 1.1240/1.1120/1.1075
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1.1630/1.1790/1.1860 /
Gann system of analysis is the best among all .Bull run in Dow continues in spite of the fact that many of so called big analysts are predicting a big crash for the last several months.Look at the chart above . Buy on declines near Gann levels is the best strategy for now. The strength of short term trend will remain intact till it closes above 25500. Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 25500-25000-24850-24550-24000-23500-23350
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 26125-26620-26760-27420
Last week we clearly indicated for a long trade near 12100. Look at the chart . It made a low of 12135 on Monday and a good 400 points rally from there. Now 12440-12520-12640 are short term Gann resistance levels. Smart and fast traders can take advantage of these levels by going short with small stop losses.Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE 12100-11725
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 12740-12890-13000
Trend in crude is still sideways and so both long and short trades as per Gann levels are advisable. Look at the levels below. 64.2 was Gann support and now look at the chart and see how this support level was instrumental in providing a superb rally. Similarly all the resistance levels also has worked but only for a day.Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 66-64.2-63.5-61.5-58.66
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 69.85-70.9--71.7
No change in major trend of Gold .It remains in a strong down trend. However short term trend is up now and will remain so till it closes below 1180. Follow the Gann levels given below and create your own trading plan.
Those who are interested in complete News letter and detailed weekly trading plan with precise Buy/Sell entry levels & minimum SL can subscribe for it. To subscribe visit the following page https://www.artoftrading.co.in/newsletters
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1180-1153-1120-1045
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1215-1228-1245-1266
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